ALFREDO OLIVA is currently employed as a Broker and/or Investment Adviser at KOVACK SECURITIES INC. located at 3162 Commodore Plaza, Suite 3E, Miami, FL, 33133.
ALFREDO OLIVA has worked at KOVACK SECURITIES INC. since June 20, 2011
Disclosure History
ALFREDO OLIVA has 2 Disclosure Event(s).
Date: September 07, 2001 Category: Customer Dispute Allegations: CLAIMAINTS ALLEGE UNSUITABLE INVESTMENTS; FAILURE TO DISCLOSE RISKS; MISREPRESENTATION; NEGLIGENCE; BREACH OF FIDUCIARY DUTY AND CONTRACT. *** I CATEGORICALLY DENY ALL OF CLAIMANTS ALLEGATIONS. THE OVERWHELMING MAJORITY OF THE TRADES IN QUESTION WERE UNSOLICITED, AS THE CLIENT INSISTED ON BUYING STOCKS THAT OUR FIRM DID NOT FOLLOW AND WERE "HOT TIPS" THAT HE RECEIVED FORM OTHER SOURCES. I ACTED IN GOOD FAITH WITH THESE CUSTOMERS AND NEVER RECOMMENDED UNSUITABLE INVESTMENTS FOR THEM. AS A MATTER OF FACT, THE CLIENTS REFERRED A NUMBER OF MY CURRENT CLIENTS TO ME. CLAIMANTS' ALLEGATIONS ARE FRIVOLOUS AND TOTALLY WITHOUT MERIT. Damage Amount Requested: $173,000.00 Settlement Amount: $35,000.00
Date: February 08, 2000 Category: Customer Dispute Allegations: CLIENT ALLEGES EXCESSIVE AND UNSUITABLE TRADING; NEGLIGENCE.I DENY ALL ALLEGATIONS. CUSTOMER IS A SPECULATOR. HE MADE ALL INVESTMENT DECISIONS AND IGNORED RECOMMENDATIONS. Damage Amount Requested: $2,847,962.00 Damages Granted: $520,662.00 Broker Comment: THE CUSTOMER HAD A PREVIOUS HISTORY OF USING THE SAME ALLEGATIONS IN A SUIT BROUGHT AGAINST ANOTHER BROKER (PRUDENTIAL) WHICH HE LOST. IN BOTH CASES, HE ALEGED NOT HAVING CONTROL OF THE ACCOUNT (UNTRUE), NOT UNDERSTANDING ENGLISH (UNTRUE) AND NOT ORDERING TRANSACTIONS (UNTRUE, 90% UNSOLICITED). IN THE PRUDENTIAL CASE, HIS CLAIM WAS DISMISSED. IN OUR CASE, THE PANEL REFUSED TO ADMIT PREVIOUS EVIDENCE AND SINCE ALL THE ALLEGATIONS WERE PROVEN FALSE, GAVE HIM AN ASWARD BASE ON 'BREACH OF FIDUCIARY DUTY'. THIS IS WHY THE FIRM THOUGHT AN APPEAL WAS IN ORDER.
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